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tv   FOX Business After the Bell  FOX Business  May 20, 2013 4:00pm-5:01pm EDT

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>> it sure is. closing bell rings] this is new leader. many names on the high hit new multiyear highs. boeing, bank of america, jpmorgan, microsoft, 3m, united technologies. david: is that good news or that bad news? some people are kind of afraid of the lofty heights. some people say, come on in, the water's fine. today there were more losers than winners. dow jones industrials down 18 points. nasdaq and russell 2000 hit a intraday high, of 1001. couldn't hold onto that. it fell below into 900s but barely so. that index is dying to get into the same kind of record territory, liz. liz: here is look at today's front page headlines. gold is bouncing higher, after a seven session losing streak. gold closed up $19.40 a troy ounce, settling at $1384. david: bouncing in gold in the midday, a real short
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squeeze there. caterpillar having a good day today. the global machinery sales fell 9% in april as this is the biggest drop, it actually came in the asia pacific division where sales fell 20%. latin america was a bright spot, rising 28%. stock ended the day up. liz: chesapeake energy tapped robert lawler, a executive at anadarko to succeed chesapeake founder aubry mcclendon. he left the company in april. david: big shoes there to fill. yahoo! agreeing to buy social blogging site, tumblr for $1.1 billion in cash. a huge purchase. the company says tumblr will be independently operated as a separate business. they expect combination will grow traffic by 20%. liz: actavis agreed to acquire warner chilcott for $5 billion in all-stock deal. that will be the third largest specialty pharmaceutical player in the p.s. both names are moving higher.
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david: judd gregg, remember him, the form err u.s. senator has been advisor to goldman sachs. he was named ceo of the securities industry and financial markets this is wall street's largest lobbying group. the new hampshire republican left the senate in 2011. liz: welcome to "after the bell". let's get to today's action. we have sandy lincoln, bmo global asset management, chief market strategist who has three plays to help you ride the market higher. scott shellady is in the pits of the cme. scott, we want to go go straight to the russell. david and i are obsessed with stocks that are smaller and turn money back into the companies. what message do you get to the fact that it finally breeched the 1,000 mark? >> i think what it probably tells us it is a little bit more responsible than maybe
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other two stock indexes that get public play. with the russell going through that mark today, i think that shows you, finally we'll give the smaller guys a little more respect. and i think they should bet the respect. they don't get the airtime that more exciting plays get. david: cot, more than half the s&p stocks reaching 12-month high. many reaching an all-time high. that concerns some folks. some people say this high altitude you run out of oxygen, what do you say? >> well everybody wants to say the next sentence out of their mouth, hey, be careful, this could correct and we could see a big down move. at the end of the day we have a situation we're pumping money into the economy. that money has to go somewhere. with deficits better than we thought they would be with other outside things like the sequester, that will give more fuel to the fire. i would pile everything in, but i would slowly be putting money to work in the stock market because this
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thing doesn't look to slow down. everybody wants the 4% pullback. we got the 4% pull back, april 11th to april 16th. what is that between friends that was your opportunity. david: hold on a second. joe has tivo earnings. go ahead, joe, what are they? >> tivo did well, it was a beat on eps and revenue t was a beat on projected to be a loss of 14 cents. a beat on $86.2 million which was a beat of the estimate, 61.87. tivo which is trying to stay relevant had good news coming out today "after the bell.". david: not an earnings report. this was a loss report. but very good news. liz: important to point out, you're looking revenue, 13% year-over-year increase in the technology revenue. this is a stock while down for the quarter is up about 31% year-over-year. still no word, i know, joe you will be looking for this, to see if there is any mention of upcoming
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litigation with motorola? >> we'll look at that going through the report right now. liz: in the past they seem to win every lawsuit when it comes to their patent protection. thank you, jo. let's get back to scott at the cme. these are names that continue to really defy gravity. i'm talking about okay, tivo did better than expected. tesla has been a real winner. first solar, solar city. these are names normally would be heavily shorted. guess what? the shorts are getting killed. isn't that a greater sentiment about the markets? >> yes it is. i think that is pretty significant. those numbers we heard from tivo i think are fantastic, number one. number two, their short ratio is 3.2%. there will be blood on the streets when that stock opens up. you can not afford to get in front of the freight train. let the market start to turn before you get shortening because there will be time. i think what everybody is worried about. we'll not have a crash in one day or we're not going to crash but you will see a trend to start to take
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place. then you start to take the moves. you don't want to be in a freight train to take a stand even though you're right you will be dead and can't spend money. david: rather than a crash, sandy lincoln thinks second-quarter earnings 2/3 of companies will beat estimates. you think better times are coming, don't you, sandy. >> i do. there is always fear. in the 1990s we saw a far different period. stocks were going through the roof. people remembered referred to it as a bulletproof market. we were paying $45 for every dollar in profit. today we're paying $16 for every dollar in profit. you have good dividends, dividend growth. great balance sheets. companies are generally beating estimates to that point about 70% of the time. we think that pattern continues in the second quarter. it is tempting for investors understandably to be nervous. if we think you scrub your portfolio, careful of what you would buy we would rather be in this market than out of this market for sure. liz: let's get to how you would be in it. you have got three names.
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we found your names very interesting because some of them don't seem to be, at least, currently, when it comes to the climate relevant. arctic cat is one of your names. i picked that one out while you also like the others so fascinating to me. you like arctic cat, why? >> arctic cat. timing with the thiel of your discussion about the small caps, this is a small cap company, $600 million. a company everybody thinks the oh, yeah, the snow meebl, right? they -- snowmobile. they have morph muched into atv company. they're a global distributor. they had a history of beatings earnings and beating sales. they're selling only 12 to 14 times forward earnings. they have a nice apparel and accessories and parts business that is a very substantial margin contributor to the company. the stock in the high 40s is still attractive company and good solid play and diversified around the globe. david: sandy, let me tell you what appeal to me as
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outside observer acacia technologies. first it is low. had had a low of 20 high of 40. it is 24. it is at the low end. one of those few stocks that hasn't run out of secondly it is one of the stocks, george soros, you may not like george soros personally but sometimes he picks great stocks that is arctic cat. we want to go to acacia which is the other stock. they collect patents. that's what it does. it is one of the stocks really seems poised to take off right now. explain more about it. >> well that's exactly right, david. you did a got summary what the company does. they collect portfolios of intellectual property and it covers the gamut, everything from telecom to technology to health care and basically it is in a real niche in that market as a result. david: we're looking at the stock price over a three-month period. you look at that one piece where it went down, went down tremendously from 30 down to where it is now in the low 20s. what happened there? why is it going to recover?
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>> it already recovered. it continues to have some volatility to it because it is a relatively small name. in many cases not very well-understood. less than $2 billion in market cap, maybe a billion two. the fact of the matter they're expected to grow earnings in the 20 plus percent range going forward and the multiple as you pointed out is only eight times forward maybe one of the things soros likes it. we like it in the bmo mutual funds. it has been a real hero over time and we think there is more to run in acacia for sure. liz: sandy, do you like any commodities here? >> you know, we like to be diversified. we're big believers in being diversified. you have long positions in commodities and already in oil and natural gas, long position you might have in diversified energy portfolio. we're cautious on commodities. obviously very undervalued. if you see things pick up in emerging markets we might turn on that, liz. right now we're still a little cautious and underweight on the commodities side. david: sandy lincoln, great stuff as always.
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come back to see us often. thanks very much. scott we'll check back with you in a couple minutes when the s&p futures close. master stock-pickers with our "wall street journal" series continues today. with biotech, our guest's last pick, that rallied only is 09% since she said buy -- 109. your portfolio simply can't afford to miss what she is recommending now. liz: yahoo! bay paying $1.1 billion or a fifth of its cash pile for blogging site, tumblr. it post as huge consumer base and could be a weapon in the mobile wars are they making any real money? will the company be able to bring in serious revenue? a top analyst weighs in and we want to hear from you. at pretty significant 1.1 billion, did yahoo! overpay for blogging site tumblr? how many times can we show the picture of somebody's manicure. is that all there is?
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>> tivo announced they are confident in their lawsuit coming up, their litigation against motorola. they say in the earnings report that just came out a few minutes ago that similar to a past successes echostar, at&t and verizon we remain confident in our position. now that is litigation will begin june 10th. in the eastern district of texas that is over three patents they're fighting over with motorola. liz, david. liz: tivo beating the street on both top and bottom line. >> getting, man, just a touch of a little boost after-hours. s&p footures are closing. let's go back to the cme. scott shell lady, what is going on there? >> we're closing with after decent gains of last week. this is positive as far as the last four or five days. we've been rallying on those the gains that in on monday
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is still pretty bullish. david: good news. thank you, scott. good to see you. liz: trip advisor investors are jumping in as deutsche bank gives the stock two thumbs up. let's head back to nicole petallides on the floor of the new york stock exchange. it hit a brand new high today. >> that's right. it really did, it hit an all-time high for trip advisors. you see the up arrow. it closed 62.63 but trading above 63 bucks at 63.01 to your point about deutsche bank. they're maintaining their buy rating. they put a new price target of $68 up from 60. they have been more positive on the sector overall and potential margin stabilization. that could be a catalyst for expedia. priceline, the firm up graded priceline as well, to a buy, trip advisor, as you know, they did keep that as a buy as well. deutsche bank getting hot on the online travel sector. back to you. liz: the online travel sector got hot in relation
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to what they did. thank you very much. david: another stock or at least in the news, was yahoo! announcing it would buy a booming blogging site called tumblr. ceo marisa maher is trying to breathe some new life into the aging internet pioneer. >> push to lure users and advertisers comes at a rather hefty cost when you super impose it how much money tumblr has made. the cost was $1.1 billion, about a fifth of yahoo's's cash while tumblr only made 13 million in revenue in 2012. was this the right move? we have a senior recently at jnp securities u you've been looking at it, yes or no, does tumblr give yahoo! as we were calling in a meeting coolify yahoo! and is that currency in of itself. >> it does. this is first major acquisition for yahoo! has done in long time. it is already adding to
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audience immediately. 50% growth in audience with tumblr's 300 million users. it will add to traffic as well by 20%. so in theory, in the next couple years it will show whether this was worth the 1.1 billion or not. so time will tell. david: ron, one thing yahoo! is losing out on not only revenue because it is missing the cutting-edge technology but also talent. you have to have talented people with your organization if you're going to be cutting-edge particularly in social media. will this acquisition bring talent to yahoo!? >> you know it should. it will at least bring the talent from tumblr, that is one. hottest sort of the private companies out there in the internet space today as he haved -- evidenced by the 300 million unique users using the service. marisa maher has done unique things since her tenure in july. she has been bringing new talent on to yahoo! via acquisitions. i believe by keeping tumblr independent and keeping the same users or shall i say
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employees in place they're going to attract more and more users going forward and actually employees that can drive yahoo! to the next level. that is the goal actually. liz: i get it. all of sudden word press is out there trying to capitalize any angst coming from this. the head of tumblr said we're not turning purple. that is the key color that yahoo! uses but people believe you sold out to the man. there will be advertisements splattered all over. we're moving to word press. word press got 72,000 defections alone. i look at that, i get worried, do you know? >> 72,000 compared to the 109 million blogs. i don't know if that is large number per se. anytime you see defects it frankly causes you alarm. relative to the grand scheme of things. on social hard to change once you've got it. onnblogs you have a long history on tumblr and not as
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you just wake up and move over. not as easy to do. david: you mentioned the next level. you mentioned the next big thing. what is the next thing for yahoo!? >> there is one of the things we're looking at more and more, making sure yahoo! executes on its strategy and its plan. i look as this sort of a one-off acquisition, 1.1 billion. we talked about it being very expensive but i don't think there will be many more of these. if they continue to get back to their bread and butter, improving their search experience, monetizing content better not only through pricing but more impressions and by integrating tumblr in a way that is not obstructive to yahoo! core or to tumblr's user base i think that is the key thing. david: ron josey, from jmp managing director, great to see you ron. >> thanks for having me. liz: thank you, ron. coming up our street awl stair series with the "wall street journal" top stock-pickers. ww're looking at biotech. one analyst's last pick is
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up 109% since she said to buy. she is here. she has two new plays again, you can't afford to miss "after the bell". david: tesla, you know how the stock has been doing, it has been electrifying. 87% rally just in the last month. with a government loan to still pay back and electric car sales living up to expectations is wall street putting a little too much of faith into the company? we'll duke it out in a street fight. the pros and cons of tesla coming up. ♪ . thank you orville and wilbur... neil and buzz: for teaching us that you can't createhe future...
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david: "the wall street journal"'s top stock-pickers getting a lot of attention. we continue to bring you the top oracle in different sectors. liz: today's master stock-picker is karen anderson, "morningstar" biotech senior analyst. one her top stock picks lexicon pharmaceuticals rose 109% after you rated it a buy. what is it about lexicon, because that is not a name when you look at out front in biotech. >> lexicon doesn't have products right now but they have promising products in the late-stage pipeline. they have a orphan drug for a syndrome, but its diabetes drug. it is novel and differentiated from competitors out there. i think they're in position to find a new partner or potentially an acquisition. david: karen, this is such a hot sector. last month we saw it take
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off like never before. virtually all the stocks were recipients of huge run-ups in the market. what are the latest trends? i went to a conference on adult stem cell search. they say theirs is the cutting-edge technology. that is where the future of biotech is. what is it? what areas of biotech do you look at right now? >> just in general, across the board with a lot of large cap biotechs, productivity is up in pipelines. we're seeing some really strong launches. either going on right now or upcoming. operating leverage is up. these companies are able to use the cash flow for buybacks. this is leading to double-digit earnings growth across the board. our favorite right now is gilead. this is based on their potential in hepatitis-c. that is really a market i think even though a lot of investors have become excited about it. p think it is misunderstood. no one sees just how big of a market this can be. liz: how do you see it? teach us a little bit about gilead and why it's sort of best positioned when it
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comes to hep-c? >> sure. they have got a drug that could reach the market later this year or or the beginning of next year. this one they acquired a little over a year ago. it's not only the most effective drug we've seen in any pipelines, it could lead to 100% cure rate in hepatitis-c. but also a very short drug regimen. only eight to 12 weeks, with little to know side-effects. current treatments --. liz: sorry i wanted to interrupt because we're looking at a three-year chart. you're at the three-year high. is there some danger you're getting a little too frothy here? would you wait for a pullback or is there more room to run on the potential of this new drug. >> i see your point. the stock doubled in the past year. i still think it is trading 20% discount to our $71 fair value estimate. purely looking at discounted cash flow basis we think this could be 10 years, hepatitis-c could be $20 billion market. gilead could have a $10
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billion portion of that. i think it is matter of the one of the biggest launches we'll be seeing in the drug industry. >> let's switch to the other pick which is amgen. that is off its 12-month high. its 12-month high was 114 which is what you think the fair value of it should be. it is down in the low 100s. why do you like amgen? why do you think goes back up to the highs? >> amgen is kind of on the different end of the spectrum from gilead. it is more of a value play in biotech. there are a well-known headwind here. they will see generic or bio similar competition to some of the oldest buy logics out there over next couple years. their pipeline is really starting to turn around. they have had some trouble. but, they have got a really strong phase three drug with cholesterol drug. david: by the way we're looking at the today east price up at the top line. it was down over 3% today. >> sure. david: what was the reason for that and is that a problem or a forecasting of bigger storm clouds to come? >> you know, there has been
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some, i think there has been some movement related to asco, the big cancer conference beginning of june. we're not very optimistic on their very near term pipeline data. they have a melanoma vaccine we think will be entering a very competitive market but the cholesterol program and psoriasis ones, those are ones we think will have multibillion-dollar potential. as the company builds its dividend i think it will look more like a very fast-growing pharma than a slow growth biotech. liz: speaking of pharma and larger pharma companies do you ever make-or-break a decision whether to call a stock a buy where there is potential they have to partner with a larger pharmaceutical name just to distribute a drug? is that sort of a net-net zero? >> we really when we do our valuations we do a discounted cash flow of potential sales approfits for the drug and we never factor in any kind of acquisition premiuu or any kind of speculation in terms of deals. david: what an exciting field to be in,
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biotechnology. it is really the cutting-edge of science lear. "morningstar"'s chief analyst for biotechnology karen andersen. congrats on being the top picker according to "the wall street journal". liz: great job. >> great. thanks, david. david: it is beginning to look like a smooth ride for tesla with shares through the roof right now. the company reported its first ever quarterly profit but, are there speed bumps in the road ahead for the automaker? is wall street getting a little overly optimistic about tesla? a bull and a bear duke it out. you don't want to miss this. straight ahead. liz: troubles for sac capital hedge fund continue as ceo steve cohen is subpoenaed and sources say criminal charges may now be filed against the firm. is a settlement likely or are both sides ready to duke it out in court?
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welwhere new york state is. investing one billion dollars to attract and grow business. where companies like geico are investing in technology & finance. welcome to the state where cutting taxes for business... is our business. welcome to the new buffalo. welcome tohe new bfalo. welcome to the new buffalo. new rk state is throwi out the old rule book the edge you can only get in new york state. grow our start your business, visit thenewny.com david: take a look, we have breaking news out of oklahoma. this is a massive storm, numerous tornado warnings and watches all over the region.
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as you can see, we have a very serious situation developing over oklahoma city. this is the area around the city. as the storm hits power lines. david: there have been various moments in the past half-hour where this has touched down. mrs. now a business story because it is in the direct path of this huge super storm. we will keep you updated and have a little screen to show you what is happening. you saw near the lower third just at the bottom of your screen. a generator is either blowing out or going over a power line but we have seen more, and there you have seen it. liz: this storm system nationwide has created 28 tornadoes. the severe weather outlook,
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those counties are all under tornado warnings or tomato watches until 10:00 p.m. central time, swear watching this courtesy of oklaaoma city. the legal battle surrounding the capital battle is ramping up. according to sources now, investigators are considering a possible criminal charge against the hedge fund. receiving a subpoena to testify before the grand jury. first of all, is he going to have to testify before a grand jury or will he plead tte fifth? >> he will be brought in to testify but he will almost certainly plead the fifth, assert his fifth amendment right against self-incrimination, he
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will probably do that, it is not uncommon to see that in a situation like this to not have to answer any questions related to possible charges or any possible landmines down the road later by prosecutors somehow untruthful to the grand jury. liz: when you are subpoenaed, do they have something now? this has been going on for a long time. we go back to good friday where one of his employees was charg charged, all kinds of issues swirling around, now they're going to subpoena him. when do you get confident enough to issue a subpoena? >> the usual see it in the context of the justice department feels it is close to the end of an investigation. in the situation like this, i believe the government will likely ask the grand jury to
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determine an indictment against steeesteve. the roadmap to where we are right now can be seen in the case you just mentioned a moment ago as well the case against matthew, it is still active and in that complaint there are serious insider investigations were there have been communicated with the person listed as portfolio manager, that is kind of ringing us into where we are right now. liz: as we look forward to this, it is a brilliantly performing hedge fund over the years, if you are advising somebody who had money at this point would you say to take it out, can't risk this?
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>> i think out simply look at it this way, be very careful and keep a close eye on it. it is early to mid july, a couple of weeks away from determination if the grand jury will bring charges to issue these kind of charges at sec capital. the next few weeks will be a bumpy one. liz: it is going to develop but in the end do you see prison sentences for any of these people involved? >> you will be looking at a really big problem. there will be a lot of potential prison time, we will see what happens, but the real key is going to be he is going to trade
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potential jail time for turning evidence against steve cohen. they don't have the e-mails on point right now, that is something we will have to keep a close eye on. liz: we appreciate it. david: we are showing pictures, seeing pictures, can you put up the video of what is happening in oklahoma city? just for a moment they touched down and then they disappear back up into the clouds but enough activity on the ground from power outages, the flashes on the ground which means the generators are blowing up or power lines going down there is a lot of activity in oklahoma city. we will keep you updated on this, and shares of tesla soaring fell on the ever quarterly profit but with loans still to be repaid, as will start being overly bullish on tesla?
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♪ >> stocks ending the day in negative territory after surging to record highs last week, consumer staples were the biggest laggards. this memorial day a week away, drivers are once again feeling the pain at the pump. the average has jumped $0.11 over the past two weeks. the price stands at $3.60. nationally minneapolis has the highest average price while tucson, arizona, has the lowest. iindiana's best coffee is brewig up a comeback. using a new format to compete with dunkin' donuts. looking to expand into new markets. that is the latest from the fox business network, giving you the power to prosper.
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david: tesla motors on a tear for the past month skyrocketing up straight towards $100 per share after him and wishing in the 40s or below for several years. also finding no shortage of buyers for the bonds. so why is tesla doing so well while most other electric car companies have been going bust? is wall street a little too rosy right now? infatuation. folks, good to see you both. does tesla deserve all the praise and the high price of the stock right now?
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>> i think they produce a really cool car. these chips are very edgy and really cutting edge for consumers. if you want to make a political statement it is a great car, but as far as the stock, that is a whole another animal. the total sales this year only 4750 vehicles and you look at the other manufacturers in that category, if you compare, it is not that big of a deal but we overinflated it and gave it a lot of push. david: we are all happy to have a profit of $11 million, it was $11 million, $68 million of the money coming in as you know where these carbon credits from california, so you take out the carbon credit and my question to you is can the business model
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survive without government input whether it is the carbon credit or the impact for consumers? >> absolutely. the company sold nearly 5000 ccrs in the first quarter. they end up delivering 4900 in we are in the very early stages of cost production on this vehicle so to see them benefiting from the credit is something concerned, but as we move forward we will season of and cost reduction from the supplier let alone the technology side. david: what do you say about that? can the business model survive the pullback of government assistance? >> the nice thing is they are songs of stock to pay off the government loan.
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what i do think is the average consumer cannot afford the money, an expert in 21,000 vehicles to be sold this year. that may be a very aggressive estimation when you look at every single manufacturer taking a loss. so far they are making a profit. really take a look at the financials. i will tell you i would not invest in the stock, it is artificially inflated, everybody wants to get on board and eventually the stock is going to drop and level off because i don't think it will can afford $70,000. david: a pet rock, is that what tesla is right now? >> not by any stretch. selling 21,000 cars a fraction of the potential market. i don't think it is comparable.
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we are looking at upper end vehicles. over 45% of these are least. introducing a product in the last month and a half enabling significant amount of sales, at least another two and a half quarters of backlog at this point and we're just scratching the surface. it causes a stir in the neighborhood, the cars are great, perform extreme that well they're built for a luxury buyer, a third car in the home. this is a toy. david: with a price range of 62,000, it is not for everyone. i have to put it to you, consumer reports says they have never, ever, and history of consumer reports seen a better constructed car unlike other car companies that went bust in the process of going bust, this is a
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premium car that gets the highest rating and unlike the other car companies, he has put his own money into this, and they're going to be paying off the government loans. this is a guy who knows how to create a company that succeeds, so how do you answer to those? >> first off there's no infrastructure for dealerships right now, it's that will hinder total sales. in order to make those numbers that he is looking for, needed dealership infrastructure and right now trying to sell direct to consumers, that will be an issue because you have service facilities to keep in mind. they are going to still need to have brake pads and wiper blades and that is where you're going to have to have concerted dealership infrastructure. if they are only selling them basically at the mall and so
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forth, that will be an issue, and a lot of states don't want tesla to sell directly to consumers because of franchising groups thing we want to sell to the consumer directly, so that will be an issue. david: how high do you think this stock goes? some say could go up to 200, what say you? >> were disappointin we are dis. if you execute on this business model the next five to seven years could be $170 stock. david: thank you. liz, to you. liz: samsung is giving away $800,000 looking for help to pull even with apple, how can you get a piece of the price
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samsung is offering? and we would love to hear from you with a $1.1 billion price tag did yahoo pay the right price or overpay for the blogging site tumblr? log on to tell us your thoughts and we will read your responses later this hour. stay tuned, we are coming right back. i'm so glad you called. thank you. we're t in ldon, are we? no. why? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your accounts for unusual activity, you could also set up fr account alerts. okay. [ female announcer ] at wells fargo we're working around the clock to help protect your money and financial information. here's your temporary card. welcome back. how was london [ female announcer ] when people talk, eat things happen.
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david: time for a quick speed read. five stories in a minute. elder airlines ceo plans to add jobs to northeastern minnesota. currently has 500 full-time employees. the department of defense has approved the use of apple devices running on ios six on the network. coming to weeks after the department approved the use of library 10 and the samsung galaxy. boeing 787 dreamliner's are back in the air. clearing the plans last month after they fix the issues with the batteries. goldman sachh is selling the remaining stake in the ban bankf china. selling a stake for $1.4 billion
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exiting an investment is made seven years ago and samsung will host an $800,000 contest for developers to build apps for the galaxy. and that is today's speed read. liz: some good ideas. we need that. hate waiting hours for your cell phone to charge? what if you could fully charge your mobile device in 20 seconds flat? that is right, 20 seconds. the story and the potential next. all stations comover to mission a for a final go.
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this. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one.
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i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 20free trades when you open an account. liz: lets go off the desk. an 18-year-old invented a revolutionary device which some say has the potential to charge a cell phone in just 20 seconds. she debuted the device at the science and engineering fair where she was awarded a massive $50,000. google has been in contact with the teenager on the device. david: we asked you if yahoo overpaid for tumbler. yes, mismanaged, it is a wonder they are still in business. liz: yes, it does seem a bit high.
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wonder if she is looking at a bigger picture that we don't see. david: we will be seeing annual shareholder meeting, very interesting. a proposal that will split the ceo jamie dimon. chairman and liz: dennis with "money" next. dennis: here is who made money today. he sold tumblr to yahoo for $1.1 billion in cash. high school dropout just 26 years old reportedly will make more than $200 million personally from the deal. so let's be happy for him. also, gold bust, the longest in the financial crisis. jumping up 1.5%. and coming up short on "money," "star trek." it won the weekend box office but fell short of the $100 mli

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